Q: Divorced 2009, Idaho. Found out that I am still on the mortgage. What is my recourse?
Paperwork says he is to refinance and take me off the mortgage. He has a business on the property now. Is the quit claim null and void since he has not done what the judge ordered? What is my interest status on this property now? Cannot rent or buy a place because it is on my credit report and I get told my income to debt ratio is to high. Am I able to ask the judge to force him to refinance the house and ask to be given the equity that has been acquired or do I have a interest in the business that is on the property? Bought house for $160,000 it worth $325,000.
A: I believe you have two options:
OPTION 1: he is in contempt of court for failure to do what the court ordered him to do. You can ask the Court to so hold and he could be ordered to serve up to 30 days jail if he refuses to do what he's been asked to do.
OPTION 2: a better option for you it seems would be NOT to try and throw him in jail for refusing to refinance you OFF the loan, but to use that to your possible advantage. You see, until he refinances you off the loan, you will always be responsible to pay the mortgage payments if he fails to. The title to the home? Did you give him a Quit Claim Deed? If you have already given him a Quit Claim Deed then you have NO rights in the property, while still having responsibilities for the property. That sucks! If however, you had paperwork that said that you "shall execute a Quit Claim Deed upon proof that he refinanced your name off the loan, then you continue to own that home/land/building, and should demand that you receive a portion of the equity in it when he finally gets around to refinancing it. In that case, you might want to "let him slide," because it only makes your purse fatter in the end! Good Luck!
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